That guitar like almost all American-made guitars have gone up up up in value. My friend bought one for 150.00 just a few years ago and now it's worth a bit more. That guitar was never made to be a superstar, though, you can tell by looking at it and by searching my memory banks back when it was sold new.
For 350.00 though, you could get many better guitars. Not Fenders, maybe, but better. I think you should sock away the 350.00, add to it a bit, say get up to 500.00 or so and, if you're into Fenders, try to get a Japanese Fender Strat Re-issue from the 80's. Those are ok. 500.00 is a good deal for those Strats, but you see what I'm getting at. I don't think a Fender Lead I (or II) is a very good guitar for 350.00, no matter what the market says.
Hell, a 3000 year old turd is probably priceless.
LL
